Egyptian President, Abdel Fattah El-Sisi, met with representatives of Italian mining companies today. These companies included Berton, Minerali Industriali, and BSM. The meeting, which took place on Tuesday, was attended by Mustafa Madbouly, the Prime Minister, Tarek El Molla, the Minister of Petroleum and Mineral Resources, General Ahmed Shazli, Head of the Financial Affairs Authority of the Armed Forces, Major General Waleed Abu Al-Magd, General Director of the National Service Projects Authority, and Major General Abdelsalam Shafiq, CEO of the Egyptian Mining, Quarries, and Saltworks Management Company.
Also in attendance was Sherif Al-Ghareeb, CEO of Sherif Brand Group, and Michele Quarone, the Italian Ambassador in Cairo. The official spokesman for the Egyptian presidency, Counselor Ahmed Fahmi, revealed that the meeting was focused on discussing cooperation prospects with Italian companies to maximize the benefits from mineral wealth in Egypt. This came in light of the considerable success of the industrial cooperation model between Egypt and Italy in the quartz production factory complex project in Ain Sokhna, which was inaugurated by Al-Sisi last May.
During the meeting, Italian company officials expressed their interest in intensifying efforts to deepen their cooperation with Egypt. They appreciated President El-Sisi’s meticulous follow-up of private investment promotion efforts, reflecting the state’s keenness to achieve a real boom in this sector. They affirmed their commitment to enhancing fruitful cooperation with Egypt in mining activities, particularly given Egypt’s untapped mineral resources and its attractive investment climate in the mining sector.
The spokesman for the Egyptian presidency also mentioned that El-Sisi emphasized Egypt’s appreciation of its deep-rooted historical relations with Italy, and its keenness to develop them in various areas of bilateral cooperation. In this context, he pointed out Egypt’s interest in attracting investments from major Italian companies in the mining sector and the manufacturing industry, with the aim of increasing the added industrial value, establishing local industries, transferring knowledge and technology, and building Egyptian capabilities in these advanced industries. This strategy, according to the president, opens up broad horizons for the national economy to provide more high-quality job opportunities, increase production, and boost exports to various countries worldwide.
